FCPA Compliance and Ethics Report-Episode 51-Interview with Tim Haidar
Recent events in Ukraine and the Middle East have expanded sanctions placed by the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) against certain foreign financial institutions and individuals. This...more
U.S. Sanctions -
On September 12, the United States, in coordination with the EU, imposed additional sanctions against Russia in connection with events in Ukraine. Specifically...
- the Office of Foreign Assets...more
The US Department of Treasury’s Office of Foreign Assets Control (OFAC) has issued additional sanctions targeting certain Russian banks, energy and defense companies. The sanctions, issued September 12, 2014, are intended to...more
The Law of Ukraine "On Sanctions" (the "Law") adopted by the Verkhovna Rada under legislative initiative of the Cabinet of Ministers of Ukraine took force on 12 September 2014. The adoption of the above Law as well as...more
The European Union (EU) put into effect on Friday (September 12, 2014) a new round of economic sanctions against Russia over its role in Ukraine. ...more
Note: This is an update to our last bulletin on this subject of 13 August 2014. The new measures are relevant to Harneys' core jurisdictions: Cyprus, the British Virgin Islands and the Cayman Islands.
On Friday , September 12th, while a tenuous truce between Ukraine and rebel forces showed signs of cracking and government officials continued to trade verbal jabs, the United States amped up pressure on Russia by expanding...more
The US and EU take coordinated action to broaden and align their Russia-related sanctions — which may evolve further depending on Ukraine peace plan progress.
On September 12, 2014, the US and the EU announced new and...more
On Friday, the White House issued new sanctions against Russia in response to Russian troop advances in eastern Ukraine that helped turn the tide of the conflict. However, a fragile truce was struck a week ago between...more
On September 12, the United States implemented another round of economic sanctions against Russia in response to the continued crisis in eastern Ukraine.
On September 11, U.S. President Barack Obama declared the U.S....more
The United States and European Union implemented new sanctions against Russia on 12 September 2014 as a result of the ongoing crisis in Ukraine. While the new US and EU measures share many similarities, companies subject to...more
This morning, the EU published further sanctions to increase the pressure on Russia for its involvement in the Ukraine. The new measures add to the already complex restrictions in place and should be carefully considered....more
As NATO and the EU seeks to increase pressure on Russia and the Crimea, the EU expanded its sanctions against Russia on 12 September. This is the latest in a series of measures introduced since March in response to the...more
Recently the United States and the EU imposed additional targeted sanctions against Russia in response to the ongoing conflict in Ukraine. Although previous sanctions issued by the U.S. and EU since March 2014 affect various...more
On 29 August 2014 the National Bank of Ukraine (the NBU) imposed restrictions on lending in foreign currency for the purpose of using such foreign currency within the domestic market of Ukraine....more
Despite the imposition of sanctions by the U.S. and EU since March, Russia had not retaliated economically until imposing the August 7 import ban on meat, fish, vegetables and dairy products from the U.S., EU, Canada,...more
UKRAINE: NEW ANTI-CRISIS TAX MEASURES -
The Verkhovna Rada, Ukraine’s Supreme Council, has approved amendments to the country’s tax law. Among the changes are amendments affecting the corporate profit tax and excise...more
The National Bank of Ukraine (NBU) toughened requirements for mandatory sale of international currency proceeds, that was temporarily introduced in November 2012. Now the requirement for mandatory sale applies to 100% of...more
The U.S. Treasury Department’s Office of Foreign Assets Control (“OFAC”) issued new guidance regarding the status of entities that are 50% or more owned by persons or entities whose property and interests in property are...more
The U.S. Department of Treasury’s Office of Foreign Assets Control (“OFAC”) revised its guidance with respect to entities owned 50 percent or more in the aggregate by more than one blocked persons. The new guidance, issued on...more
On August 13, 2014, the U.S. Department of the Treasury, Office of Foreign Assets Control (OFAC) published guidance (“Revised Guidance”) that revises its 2008 guidance regarding how to treat entities that are owned or...more
Starting in March of this year, the United States imposed economic sanctions in response to Russian-led actions in Ukraine. Since March, responding to the deteriorating situation, US sanctions have continued to escalate. ...more
New EU restrictions and prohibitions -
As the crisis over Ukrainian sovereignty has deepened, notably following the crash of Malaysia Airlines Flight 17, the EU has sought to increase punitive measures on rebel groups...more
The sanctions directly affect companies involved in Russia's oil and gas industries by imposing new export license requirements....more
On August 6, 2014, Canada amended the Special Economic Measures (Ukraine) Regulations and Special Economic Measures (Russia) Regulations to further expand the list of “designated persons”, both individuals and entities, with...more
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